So poor old Fred Goodwin has been stripped of his knighthood. Apparently, betting big on a Dutch bank and getting it catastrophically wrong means you end up bringing the honours system into some kind of disrepute. At this point let me remind you that Alan Sugar has a peerage.
As with the question of bonuses at RBS (which, if memory serves turned a £2bn profit last year), so the outrage and ordure chucked at Sir Fred was enough to make one feel slightly sorry for him.
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